The Esports Betting Industry in Singapore – 2024 Review

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Betting companies are constantly looking for new ways to entertain their audience while still giving them the chance to win large cash prizes. Because of this, many popular betting agencies have recently started to venture into the world of eSports. The attention given to competitive electronic sports, otherwise referred to as e-sports, has grown exponentially; with platforms such as Twitch making it possible for professional gamers to stream their gameplay to a live audience.

It’s this attention that has driven betting companies to capitalize on this rapidly growing industry. As a result, eSports betting was conceived. It involves placing wagers on gamers who participate in competitive video gaming.

This relatively new form of betting has been so well received by gamblers all over the world that it’s estimated to become worth $30 billion by the end of the year 2024. You can click here to learn more about the exponential growth of this industry. Although this may be good news for gambling enthusiasts all over the world, Esports betting Singapore fans still face lots of uncertainties concerning the subject.

The country has a somewhat ugly past concerning betting. Gambling addiction was so severe in the country at one point that it was considered an epidemic; people would lose large amounts of money with some even going bankrupt in a single day. This is what caused the government to ban all forms of online wagering unless it’s through an approved company.

Nevertheless, the government of Singapore doesn’t have anything against eSports itself. As a matter of fact, it has contributed greatly to the growth of the industry and has made considerable advancements in order to make it a legitimate sports segment. To better understand the position of eSports in Singapore, here’s a brief look at the state of the industry in this beautiful city-state.

eSports in Singapore

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The eSports industry in Singapore has received a lot of help from the government. Over the years, it has slowly gained lots of fame from the gaming community of the country; so much so that the Singapore Sports Hub built a state-of-the-art facility to help local players prepare for competitions. This shows just how much eSports has been considered as an actual sport in the country.

A highlight in the eSports world of Singapore is when the country’s most famous team, Team Flash, came second in the 2018 FIFA E-World Cup. Since then, more teams have been formed so as to diversify the games in which the country can compete in. There are a ton of games that are included in the eSports catalog including FIFA, Dota 2, Halo, Call of Duty, Fortnite, and League of Legends.

eSports Betting

Betting on eSports has been on a rapid rise, even though it is relatively new. The sector has become very successful and now wagering on video game competitions is a multi-billion-dollar industry. Esports is already quite competitive as it is; thus, when you add the element of money to it, things can get very serious.

There are lots of eSports betting sites where avid gamblers can stake on their favorite teams. Moreover, online casinos have gone ahead to include eSports betting on their sites, making them even more convenient for gamblers who want all their games under one roof. Given that most of these online casinos also have mobile apps, people can do their betting from wherever they are.

Betting on eSports in Singapore

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As far as gambling goes in Singapore, eSports betting isn’t exactly legal. Therefore, there’s really no way for Singaporeans to access online eSports betting sites without being discovered by authorities. When caught, gamblers can have a fine imposed on them or they’ll have to serve a jail term. That’s not all, the website providing the gambling services will also face the law. Still, thousands of gambling fans access eSports betting sites from other countries using VPNs.

Online Betting Exceptions in Singapore

For eSports betting to be legalized in Singapore, it must first be offered by one of the country’s exception companies. An exception company is a trustworthy organization that is licensed by the government to provide online gambling services. This was brought about by a particular amendment done in 2016 which saw the regulation of online gambling in the country.

Currently, there are only two companies in Singapore that have been given the green light to operate; these include Singapore Turf Club and Singapore Pools. However, eSports betting enthusiasts have to wait a while longer to get their prayers answered because the two providers only offer football betting, 4D lottery, horse race betting, Toto lottery, and motor racing bets.

The Genres of eSports

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There are five categories of games that make up the world of eSports. These genres can come in handy when betting on eSports teams since you can pinpoint which ones are more lucrative. In order to give you a better understanding of this, here’s a rundown of the genres of eSports.

  • Sports Simulation Games

Games that fall under this category recreate physical sports such as football, basketball, and rugby. Examples include NBA2K and FIFA.

  • First-Person Shooters

This genre contains combat games that incorporate the first-person view in their gameplay, such as Call of Duty. Either individuals or teams can contest in these types of games.

  • Multiplayer Online Battle Arena

Games in this category involve team-based battles where two teams play against each other to achieve certain goals. A good example is the League of legends.

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  • Fighting Games

These are games based on virtual combat with Tekken and Street Fighter being the perfect examples of games falling in this category.

  • Casual Games

This category includes games that have quick matches such as Clash Royale.

eSports betting is a segment that is rapidly gaining popularity among gambling enthusiasts. The sport itself is largely popularized by the huge number of tournaments held every year.

Some of the most famous tournaments and championships are held in Singapore, which has enabled eSports betting to thrive despite the setbacks it faces in the country. It’s only a matter of time before this form of gambling is legalized in Singapore, a move that will see the industry soar to even greater heights.